Financing for Beauty Salons

With these commercial loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $185,000 was given to a Pennsylvania entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Upper Darby, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Enterprise Invest Fund Inc., based in Philadelphia, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
UPPER DARBY, PA 19082

SBA Loan Lender

ENTERPRISE INVEST FUND INC.
CAST IRON BLDG, 718 ARCH ST,
PHILADELPHIA, PA 19106

This commercial loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

11/18/2004

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Philadelphia, Pennsylvania

SBA Lenders in Pennsylvania